As this happened, Goldman initiated its Novo Nordisk ADR [NVO] rating to a Buy in a research note published on May 30, 2024; the price target was $156. A number of analysts have revised their coverage, including BMO Capital Markets’s analysts, who began to cover the stock in mid April with a ‘”an Outperform”‘ rating. Morgan Stanley began covering NVO with “an Overweight” recommendation on January 23, 2024.
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Price Performance Review of NVO
On Tuesday, Novo Nordisk ADR [NYSE:NVO] saw its stock fall -1.70% to $109.19. Over the last five days, the stock has lost -0.01%. Novo Nordisk ADR shares have risen nearly 5.55% since the year began. Nevertheless, the stocks have risen 12.99% over the past one year. While a 52-week high of $148.15 was reached on 06/25/24, a 52-week low of $94.73 was recorded on 11/18/24. SMA at 50 days reached $111.21, while 200 days put it at $127.06.
Levels Of Support And Resistance For NVO Stock
The 24-hour chart illustrates a support level at 108.08, which if violated will result in even more drops to 106.96. On the upside, there is a resistance level at 110.93. A further resistance level may holdings at 112.66. The Relative Strength Index (RSI) on the 14-day chart is 50.95, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 2.97, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 26.72%. Stochastics %K at 86.79% indicates the stock is a selling.
How much short interest is there in Novo Nordisk ADR?
A steep rise in short interest was recorded in Novo Nordisk ADR stocks on 2024-11-29, dropping by -0.37 million shares to a total of 5.68 million shares. Yahoo Finance data shows the prior-month short interest on 2024-10-31 was 6.05 million shares. There was a decline of -6.56%, which implies that there is a negative sentiment for the stock.
The most recent change occurred on December 01, 2023 when Cantor Fitzgerald began covering the stock and recommended ‘”an Overweight”‘ rating along with a $120 price target.
